Asset growth of AzSığorta exceeds 60 percent
Azerbaijan, Baku, 27 March / Trend, A. Akhundov /
Assets of Azerbaijani insurance company AzSığorta based on performance in 2012 amounted to 54.8 million manat compared to 34.09 million manat at the beginning of last year. This is an increase of 60.75 percent, according to the balance sheet of the company published in the official press.
The financial statements of AzSığorta were audited by "RR-VAM Beynəlxalq Audit Konsaltinq.
According to the report, long-term assets of the company amounted to 13.55 million manat by the end of 2012, increasing by 5.64 times, whereas short-term assets totaled 41.26 million manat with an annual growth of 30.2 percent.
In 2012, the company accumulated 34.58 million manat in cash and cash equivalents, including deposit accounts of 22.04 million manat, current accounts - 12.41 million manat.
The paid-up share capital of AzSığorta stood at 20.3 million manat up to 2012 versus 19.86 million manat in 2011. The company completed 2012 with a net profit of 12.18 million manat.
The company's aggregate capital by the end of last year amounted to 32.857 million manat, or 57.47 percent more than in 2011.
The aggregate liabilities of the company amounted to 21.95 million manat, increasing by nearly 66 percent, and capital and liabilities as a whole - 54.8 million manat, increasing by 60.75 percent.
The company's revenues last year amounted to 33.35 million manat, expenses - 18.12 million manat.
AzSığorta insurance company was founded in November 2006. It provides services to 32 types of voluntary and five types of compulsory insurance.
The official exchange rate on March 27 is 0.7848 AZN / USD.